CFO Moves: Brown-Forman, Simulations Plus, Berry Plastics

Brown-Forman Corp., a beverage company based in Louisville, Ky., said Chief Financial Officer Donald C. Berg will relinquish that title in January ahead of his retirement in April. He will be succeeded by Jane C. Morreau, currently the company’s chief production officer and head of information technology. As part of her promotion, Ms. Morreau’s combined annual salary and holiday bonus will increase to $520,833, her short-term incentive opportunity will rise to $360,000, and her long-term incentive will increase to $700,000. Mr. Berg received compensation in 2013 valued at $3.1 million, according to a proxy filing.

Simulations Plus Inc., a pharmaceutical-research software maker based in Lancaster, Calif., named John R. Kneisel as its chief financial officer. He succeeds Momoko Beran, who plans to retire in January. Mr. Kneisel has served as CFO and controller for several companies, according to a press release. Ms. Beran received compensation in 2012 valued at $197,702, according to the company’s most recent proxy filing.

Berry Plastics Group Inc., a manufacturer based in Evansville, Ind., said Chief Financial Officer Jim Kratochvil will retire Jan. 2. He will be succeeded by Mark Miles, currently the company’s controller and treasurer. Mr. Kratochvil received compensation in 2012 valued at $969,547, according to a proxy filing.

Deloitte's Financial Reporting Alert discusses certain key accounting and financial reporting considerations related to the current economic conditions in the eurozone and Puerto Rico, including a summary of financial reporting implications that would result from a country's decision to exit the eurozone and an outline of disclosures recommended by the SEC in 2012 about European sovereign debt.